Ask question

Ask question

All categories

3 years ago

7

Freddy just turned 42 and has retirement savings in an IRA. How many years will he have to wait to be able to withdraw money wit

hout penalty?

2 answers:

SOVA2 [1]3 years ago

8 0

Answer:

17.5

Explanation:

wlad13 [49]3 years ago

6 0

17.5 years to wait to be able to withdraw money without penalty.

You might be interested in

A machine was purchased at a cost of $78,000. The equipment had an estimated useful life of five years and a residual value of $

KiRa [710]

Answer:

Loss on Sale of Equipment = $10,000.

Explanation:

The gain or loss on sale of Property, plant, and Equipment is calculated by comparing Carrying Value (Cost - Accumulated Depreciation) and Sale Proceeds. The carrying value of a machine at the end of 4th year is:

CV = 78,000 - { [ (78,000 - 3,000) / 5 ] * 4} = 78,000 - 60,000 = $18,000.

<u>Calculating Gain/Loss:</u>

Gain / (Loss) = Carrying value - Sales Proceeds = 18,000 - 8,000 = ($10,000).

Because the company has sold a machine worth of $18,000 for $8,000, so it has incurred a loss of $10,000 on the transaction. This loss is recognized in the Statement of Profit or Loss.

6 0

3 years ago

The stockholders' equity of Oriole Company at July 31, 2021 is presented below: Common stock, par value $20, authorized 400,000

WINSTONCH [101]

Answer: $1,717,200

Explanation:

The amount of the debit to retained earnings as a result of the declaration and distribution of this stock dividend will be:

= 15% × 159,000 × $72

= 0.15 × 159,000 × $72

= $1,717,200

3 0

3 years ago

When a manager is told to maximize the revenues from the sales of goods and services produced, this is an example of a(n) ______

sukhopar [10]

The correct answer would be revenue budget approach. In this approach, a manager is asked to maximize the profit they get from the services and goods that are produced. Revenue budget is a forecast of the sales of a company. Managers would use certain model to maximize the amount of such.

8 0

3 years ago

The Outpost, a sole proprietorship currently sells short leather jackets for $369 each. The firm is considering selling long coa

Cloud [144]

Answer:

$134,546

Explanation:

Calculation to determine the projected operating cash flow for this project

Projected operating cash flow=

{[820 × ($719 − 435)] + [(1,040 − 1,120) × ($369 − 228)] − $23,100} × {1 − .34} + {$10,400 × .34}

Projected operating cash flow={[820 × $284)] + [$80 × $141] − $23,100} × {.66} + {$3,436}

Projected operating cash flow= $134,546

Therefore the projected operating cash flow for this project is $134,546

3 0

3 years ago

At December 31, Tremble Music had account balances in Accounts Receivable of $300,000 and in Allowance for Uncollectible Account

anzhelika [568]

Answer:

The balance of uncollectible accounts after the adjustment will be $15,000

Explanation:

On December 31, the balance of the accounts receivable is $300,000 and on same data it is suggested that the 5% of the account receivable will be not be collected.

So, the balance of the uncollectible accounts will be computed as:

Uncollectible accounts = Account receivable balance × % which will not collected

where

Account receivable balance is $300,000

% which will not be collected is 5%

Putting the values above:

= $300,000 × 5%

= $15,000

NOTE: The allowance for uncollectible accounts of $1,000, already credited, so will not be considered again.

8 0

3 years ago